PYMNTS

SEPTEMBER 4, 2019

Merchants must handle the sales tax compliance obligations of each locale from which they receive money if they want to sell online. The complexities of sales tax compliance affect business decisions by both sellers and marketplaces, according to Ted Hettich, chief sales officer at U.K. for example. . Deciphering obligations.

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Taxes Policies Compliance Retail 131

PYMNTS

JANUARY 6, 2020

As 2020 dawns, regulators are continuing to focus on taxes and possible anti-competitive behavior on the part of tech’s marquee names. Russian regulators are seemingly taking aim at larger U.S. The Russian regulation means that tech giants would have to pre-install the Yandex web browser and other apps. Across the Pond.

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Taxes Regulation Samsung Google 131

PYMNTS

SEPTEMBER 3, 2019

million sellers active on Amazon , for example, and more joining every day. Merchants working to expand and sell online in more markets must comply with each market’s local sales tax regulations, however, and that is an increasingly complicated task. Around The Next-Gen Sales Tax World.

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Taxes South Dakota Online Report 133

PYMNTS

SEPTEMBER 4, 2019

Since 1992, when eCommerce was still in its infancy, online retailers have not had to collect sales tax. States can now tax sales by companies that do not have a physical presence within the state. Will this increasingly regulated online sales tax environment affect this growth? Online Sales Tax and Marketplaces.

Taxes 129

Taxes Online South Dakota Louisiana 129

PYMNTS

DECEMBER 27, 2019

Retailers that want to sell merchandise nationwide must pay attention to how each state’s tax code treats their goods. For example, products considered to be exempt medical necessities in some states might be taxed at high rates in others. 100: Minimum number of local tax codes in Alaska.

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Taxes Alaska Minnesota Compliance 131

PYMNTS

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. SMBs need to remain compliant with increasingly complex financial regulations. SMBs And Manual Tax Frustrations.

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PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report. Larry Hogan vetoed the levy.

Maryland 151

Maryland Taxes Online Groups 151

PYMNTS

DECEMBER 30, 2019

Some video game companies seek to curry interest in new systems by offering deals that pair consoles with games for lower prices, rather than buying both separately, for example. This month’s Deep Dive examines bundled products’ tax complexities, as well as the support and strategies merchants use to reduce strain and minimize liabilities.

Taxes 130

Taxes Retail Iowa Policies 130

PYMNTS

OCTOBER 11, 2019

But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. When [eCommerce companies] can’t get through the language barrier, the outcome is large-scale tax evasion, whether through ignorance, or whether through deliberate actions across the world.”.

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Taxes Course Company Training 123

PYMNTS

SEPTEMBER 3, 2019

In Japan, the Fair Trade Commission said last week that it has draft guidelines in place that would promote tighter regulation of larger tech firms. Taxes, Too. As reported, companies paying the French digital tax will be reimbursed once that international framework is in place. Libra in the Crosshairs.

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Guidelines Regulation Taxes United States 116

PYMNTS

APRIL 14, 2020

Food delivery and Uber drivers, for example, are among those still able to work. Gig workers’ rights and benefits — including healthcare and access to unemployment — have become key topics debated by regulators in th e United States as they work to figure out how to provide support. How The Pandemic Is Impacting Business Regulations.

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Regulation Examples United States National 285

PYMNTS

MARCH 3, 2020

Andrew Tyrie, chairman of the Competition and Markets Authority (CMA), a competition regulator in the U.K., said his fellow regulators have been too soft on digital mergers, and consumers have suffered as a result, according to the Financial Times. He also called for stronger abilities to go after large tech companies.

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Regulation Conference Taxes Marketing 140

PYMNTS

APRIL 12, 2016

China has some new taxes on goods imported through eCommerce sites, though it has also removed some duties that had previously been assessed. Food will now import at a higher duty price; previously the tax was 10 percent. percent, a dip from the 17 percent currently being charged as a value-added tax in Chinese physical stores.

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Taxes Policies Metro Retail 100

PYMNTS

SEPTEMBER 8, 2020

Here’s the latest news for Big Tech’s Google , Amazon , Apple and Facebook , which are coming under increasing scrutiny from legislators and regulators the world over. Regulation. Big Tech Updates Fees to Reflect UK Digital Services Tax. For example, the company intends to pass on a new 2 percent U.K. and other countries.

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Taxes Google Apple social media 131

PYMNTS

JANUARY 26, 2018

And lest you think changes in tax policy sow confusion only in the United States, think again. Bitcoin breeched a key psychological barrier on news that the South Korean government would tax income earned by virtual currency exchanges to the tune of 24.2 This past week saw a wild ride. For someone in the U.S.,

Bitcoin 123

Bitcoin Taxes cryptocurrency Regulation 123

Abrigo

OCTOBER 14, 2014

Other common manual errors include double counting income and debt-service and excluding necessary tax forms. • Spreading : “Three analysts at the same institution may spread three tax returns into financial statements three different ways,” notes McPeak. This could improve consistency across the board.

Risk Management 223

Risk Management Management Taxes Analysis 223

PYMNTS

OCTOBER 1, 2020

Consumers and microbusinesses now get an average of two disbursements each year, excluding tax disbursements from local, state and federal governments. 1: Instant disbursements as a percentage of all non-tax disbursements in the U.S. Fast Fact No. are growing — but slowly. More than two-thirds of consumers (68.1

Trends 306

Trends Study Taxes Payments 306

PYMNTS

JUNE 20, 2018

Peer-to-peer car-sharing services might soon face the same regulation as traditional car rental companies. This month, for example, Maryland passed a bill that requires car-sharing companies to comply with regulations similar to rules for car rental companies, including paying sales tax.

Regulation 100

Regulation San Francisco Maryland Illinois 100

PYMNTS

MAY 6, 2020

The pandemic has shut down brick-and-mortar casinos in markets like the United States to help minimize risk, for example, leading consumers to turn to online casinos and sportsbooks. The COVID-19 pandemic has put a halt on some of that growth — no sports means no sports betting, for example — but it has not prevented its rise completely.

Online 222

Online Taxes United States Industry 222

Abrigo

APRIL 19, 2022

Not analyzing (or requesting) all of the necessary tax forms Tax returns and their supporting schedules are vital to performing a GCF analysis correctly. For example, the K-1 forms are crucial for obtaining the distributions and contributions applicable to the individual, which provide an actual cash flow amount.

Analysis 195

Analysis Taxes Lending Examples 195

PYMNTS

NOVEMBER 27, 2018

The terms of this mandate will ensure that these areas are regulated and managed in a way that provides job opportunities as well as income for the government and people of Nigeria. Abubakar added that regulation will “provide clarity” and allow for jobs and income for Nigeria.

blockchain 193

blockchain cryptocurrency Bitcoin Ohio 193

PYMNTS

SEPTEMBER 9, 2016

Facebook’s WhatsApp, Apple’s FaceTime and Skype are all on the European Commission’s list, which would include tightening security regulations. Additional measures may include mandating that messaging platforms, such as SkypeOut, must offer a way to call in an emergency, for example.

Regulation 100

Regulation Policies Apple Security 100

PYMNTS

JANUARY 16, 2019

In one example from the past several days, the China Banking Association (CBA) — the regulatory agency tied to the sector — has launched a new blockchain-underpinned initiative focused on trade finance. Separately, the South Korean government has been eyeing tax breaks for blockchain in a move that looks to bring innovation to the region.

blockchain 206

blockchain Taxes Security Survey 206

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Corporate buyers that have gathered enough information on potential business partners then need to answer to regulators. Digital Fixes.

Data 166

Data Management Taxes Meeting 166

PYMNTS

JANUARY 27, 2020

The change may have been telegraphed more than a year ago in October 2018, when Mick Mulvaney, who had been serving as acting director of the agency, said that the CFPB was working on a new regulation to define those practices, as reported in The Wall Street Journal. Digital Taxes, Abroad.

New York 179

New York Taxes California Conference 179

PYMNTS

SEPTEMBER 12, 2019

billion — 91 percent — of those penalties, while European regulators demanded $1.7 FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. A report found that the U.S. imposed a full $23.52 billion and the Middle East levied $9.5 million. .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

APRIL 21, 2020

As he told Webster, “technical debt is like a tax. It’s a tax on agility, productivity and adaptability. It’s a tax that gets built up over time.”. Kassam told Webster that a single customer can have different names within the same firm — in one department, for example, a corporate client could be known as “customer X Inc.,”

System 208

System Taxes Data Technology 208

PYMNTS

DECEMBER 3, 2020

Like all regulations, the new Digital Services Act brewing in the European Union has its detractors (those who will be regulated) and its fans (those who are writing the regulations). Yet the DCP still sees the need for regulations. Somewhere in between are consumers. The DSA, now scheduled for a Dec.

Regulation 204

Regulation Google National Marketing 204

PYMNTS

SEPTEMBER 16, 2020

Homesharing platforms must vet renters or tenants and ensure that their personal and payment data remain secure, for example. Ridesharing marketplaces similarly rely on trust to please the car owners and renters who use their platforms, verifying that both parties are who they say they are as well as complying with relevant regulations. .

Taxes 230

Taxes Guidelines Meeting Security 230

PYMNTS

MAY 8, 2020

Supreme Court decision allowed sports betting in 2018 and inspired 2019 laws that govern the fledging industry in 10 states and set guidelines such as how online casinos can operate and how sports betting would be taxed. This year was expected to be lucrative for online sports betting as it is the first since those regulations were created.

Online 176

Online Industry New Jersey Pennsylvania 176

PYMNTS

JUNE 29, 2020

We cannot lift the restrictions without reassuring ourselves that the firm has been able to satisfy all our concerns, for example that all clients’ money is safe,” the Financial Conduct Authority (FCA) said in a statement. “We The United Kingdom’s regulatory authority said Wirecard AG was correcting issues raised by the $2.1

Taxes 223

Taxes Report Financial Technology Examples 223

PYMNTS

MAY 3, 2016

This is proving particularly true for more and more cash-strapped states that have spent years staring at soaring traffic for online retailers but little — if any — increases in the taxes reaped from this digital, transcontinental economy. Fields, chair of Morrison & Foerster LLP’s state and local tax group, told Bloomberg BNA.

South Dakota 100

South Dakota Taxes Online North Dakota 100

PYMNTS

FEBRUARY 27, 2019

27) recommending that the EU create a police unit dedicated to the investigation of tax and financial crimes, as well as a watchdog organization to fight money-laundering, according to a report by Reuters. It cited Luxembourg, Belgium, The Netherlands and others as examples. European Union lawmakers released a report on Wednesday (Feb.

Report 152

Report Taxes Maine Regional 152

PYMNTS

FEBRUARY 25, 2020

With regulators across each global market requiring different sets of data in different formats, corporates face a significant barrier to streamlining payments in the form of supplier onboarding to ensure tax, anti-money laundering (AML) and other regulatory requirements.

Compliance 184

Compliance Taxes Fintech Resources 184

PYMNTS

AUGUST 3, 2020

Consumers have come to expect on-demand service when they watch movies, make online purchases or hail rides, for example, but this practice contrasts with how most employees are paid. McDonald’s and Outback Steakhouse began offering day-of payouts to employees two years ago, for example, and Walmart — the largest private employer in the U.S.

Payments 211

Payments Taxes Case Study Examples 211

South State Correspondent

JUNE 7, 2023

Bank ERC Background Bank ERCs is a refundable tax credit available to businesses, including financial institutions, affected by the global pandemic as granted under the CARES Act and modified by the Relief Act. Unable to hold in-person meetings—with customers, partners, regulators, industry representatives, and more.

Taxes 195

Taxes Meeting Operations ATM 195

BankUnderground

NOVEMBER 8, 2023

In a new working paper , we show that cap-and-trade schemes lead to lower volatility in GDP and financial variables, and result in reduced welfare costs of the business cycle , when compared to the more widely known carbon taxes. We find that a cap-and-trade system keeps the economy significantly more stable.

Policies 80

Policies Regulation Taxes Compliance 80